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Registering a Company in Bulgaria

Updated on Tuesday 26th June 2018

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registering_a_company_in_bulgaria.jpgThe Bulgarian Registry Agency is a result of the effort of the Bulgarian authorities to simplify and centralize the company formation procedures. The Agency is subordinated to the Minister of Justice in Sofia and provides services under the Law of Cadastre and Property Register. One of the institutions functioning through the Agency is the Bulgarian Trade Register. It consists of specialized administration and general administration. In simple words, the institution is an electronic database with information regarding each trader and branch of a local or foreign trader registered in Bulgaria. Among the functions of the Trade Register, there are registrations of all legal entities, organizations, branches of foreign entities, traders, sole proprietorships and more. Our team of company formation agents in Bulgaria are at your disposal with in-depth assistance and details about how to register a company in Bulgaria and about the requirements in this sense.
 
Everyone interested in registering a company in Bulgaria and in other countries, such as Italy, Seychelles or Canada or starting a business in the Netherlands is able to save time with the registration process, as the informational system allows applications to be downloaded and sent electronically. 

 

What are the main steps of company registration in Bulgaria?

 
As a foreign investor in Bulgaria, one must understand the requirements of the company formation in Bulgaria and the main stages linked to the incorporation, such as:
 
  • the structure of the company needs to be selected before the registration;
  • the Articles of Association need to be prepared, alongside with the forms and declarations found at the Trade Register in Bulgaria;
  • a bank account needs to be opened for the minimum share capital of the business;
  • the company must be registered for tax purposes and social contributions;
  • the business startup costs need to be considered at the time of registration.
 

How can I register a branch in Bulgaria?

 
The registration process of a branch is a simple procedure because such entity runs under the rules of a limited liability company or a joint stock company. As soon as the certificate of registration is issued, the branch needs to be registered for tax purposes with the Bulgarian National Revenue Agency. Our company incorporation consultants in Bulgaria can handle the registration process of branches in Bulgaria, therefore, you may solicit complete information in this matter. Also, our advisors can represent your business in Bulgaria as legal representatives.

 

What changes in the company need to be registered?

 

Information related to significant changes regarding a company must be communicated to the Register. The institution holds information like capital issues, replacement of managers or shareholders and a new office. They are taken into consideration by a judge that approves them or, under some circumstances, may request additional information. Once a company is registered, the Bulgarian Trade Register sends official information to the rest of the institutions of interest for the functioning of the company, like the National Social Security Institute or the National Revenue Agency. All trades and branches of national or foreign traders entered into the Trade Register receive a unified identification code.
 
The Bulgarian Trade Register holds information about all types of companies, including the ones in insolvency or liquidation. Upon request, the institution is obliged by the law to offer official information and authenticated copies of requested documents. The same is in other countries, like Finland, Estonia, Bulgaria, and Georgia, where you can open a company. The registration at the Trade Register is mandatory for foreign persons engaged in commercial activities in Bulgaria. The website of the institution provides data about foreign merchants. Upon the information in the database, certificates can be released by the Trade Register regarding the status and financial situation of the companies. The database is frequently updated, to provide a clear and proper status of the commercial entities that activate in Bulgaria.
 
For more details about the Trade Register, you may contact our company formation agents in Bulgaria.

 

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